Zensho Holdings Co., Ltd. announced a private placement to issue 300 class A preferred shares at an issue price of ¥100,000,000 for gross proceeds of ¥30,000,000,000 on July 18, 2023. The transaction will include participation from new investor, Development Bank of Japan Inc. for 150 shares and Mizuho Bank, Ltd. for 150 shares. The transaction is expected to close the transaction on September 29, 2023.

The transaction has been approved by the board of directors of the company. The company will raise funds through third party allotment.